Feed lot

That’s all we are to the corporations. Ralph Nader:

Many giant profitable U.S. corporations are increasingly abandoning America while draining it at the same time.

General Electric, for example, has paid no federal income taxes for a decade while becoming a net job exporter and fighting its hard-pressed workers who want collective bargaining through unions like the United Electrical Workers Union (UE). GE’s boss, Jeffrey Immelt, makes about $12,400 an hour on an 8-hour day, plus benefits and perks, presiding over this global corporate empire.

Telling by their behavior, these big companies think patriotism toward the country where they were created and prospered is for chumps. Their antennae point to places where taxes are very low, labor is wage slavery, independent unions are non-existent, governments have their hands out, and equal justice under the rule of law does not exist. China, for example, has fit that description for over 25 years.

Other than profiteering from selling Washington very expensive weapons of mass destruction, many multinational firms have little sense of true national security.

Did you know that about 80 percent of the ingredients in medicines Americans take now come from China and India where visits by FDA inspectors are infrequent and inadequate?

The lucrative U.S. drug industry – coddled with tax credits, free transfer of almost-ready-to-market drugs developed with U.S. taxpayer dollars via the National Institutes of Health – charges Americans the highest prices for drugs in the world and still wants more profits. Drug companies no longer produce many necessary medicines like penicillin in the U.S., preferring to pay slave wages abroad to import drugs back into the U.S.

Absence of patriotism has exposed our country to dependency on foreign suppliers for crucial medicines, and these foreign suppliers may not be so friendly in the future.

Giant U.S. companies are strip-mining America in numerous ways, starting with the corporate tax base. By shifting more of their profits abroad to “tax-haven” countries (like the Cayman Islands) through transfer pricing and other gimmicks, and by lobbying many other tax escapes through Congress, they can report record profits in the U.S. with diminishing tax payments. Yet they are benefitting from the public services, special privileges, and protection by our armed forces because they are U.S. corporations.

3 Responses to Feed lot

  1. quixote April 2, 2013 at 10:23 am #

    And if you, as a wee little individual, do your own globalizing and get the same drugs from India at one tenth the price, that’s not allowed. It wouldn’t be safe!

    The identical drugs get sprinkled with holy water when coming in through US Customs, and that makes all the difference.

  2. imhotep April 2, 2013 at 12:03 pm #

    Did you think that “Soylent Green” was simply a sci-fi film? Anybody can get drugs from India by way of Canada. Cheaply. The FDA has lots of field offices in India checking the quality of production. It’s always good to do your own research and not rely on what other people tell you. Especially if those other people are Republicans or elected officials.

  3. Tom April 2, 2013 at 1:00 pm #

    If Nader had been elected president the first time we’d probably not be in this mess today. Keep votin’ that same party Republicrat ticket and it’s guaranteed to get worse each time. Beyond that, none of this is going to matter soon, since we’re on the downhill slide into oblivion in our lifetimes and these are just meaningless details once the system collapses. Face it, we fucked up the planet (since the Industrial Revolution) and have passed 10 significant climate change tipping points – now there’s no going back! A big thing to do before that happens would have been to get all the nuclear plants decommissioned and all the waste saftely stored somehow – but now it’s too late. We’re lookin’ at Fukushima x 400 or more in radiation being released once the grid fails.

Site Meter